::on-chain insights::
💥 A wallet most likely belonging to the Immutable X team has sold $2.23 million worth of $IMX tokens!
▪️ The multisig wallet 0x19e, which potentially belongs to the IMX team, sent 972.417K IMX ($2.23 million) to Coinbase for selling.
IMO
▪️ IMX is currently experiencing a local downtrend, and if this trend continues, the price of IMX could drop to $1.5.
▪️ Breaking and consolidating above the $2.46 level could indicate a change in the local trend from bearish to bullish.
▪️ However, I have some concerns about the potential for upward movement in IMX, given that the team has decided to sell some of their tokens at current prices.
